Yahoo Finance Global Peracetic Acid Market Is Projected to Register at a CAGR Of 7.70% Over the Forecast Period 2021 to 2030; Quince Market Insights
Major market players operating in the global peracetic acid market, which include Evonik Industries AG (Germany), Solvay SA (Belgium), Mitsubishi Gas Chemical Company (Japan), Ecolab Inc. (US), Enviro Tech Chemical Services (US), Kemira Ojy (Finland), Christeyns (Belgium), SEITZ GmBH (Germany), Jubilant Life Sciences (India), and Sopura (Belgium).
Pune, India, Dec. 08, 2021 (GLOBE NEWSWIRE) -- The global peracetic acid market has been estimated to be valued USD 875.6 million in 2021 and is projected to exhibit a CAGR of 7.70% during the forecast period, according to a recent market study by Quince Market Insights. Peracetic acid is an organic compound and a colorless liquid having a strong smell. Peracetic acid blends have been approved by the U.S. Food and Drug Administration (FDA) as sanitizer on food contact surfaces and for direct food contact with fruits, vegetables and meat, poultry, and seafood. Hence, it is used to maintain the hygiene in the food industry to prevent food contagion.
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With the rapid growth of the population as well as an increasing per capita income, the demand of the food has surged in the developed countries where big companies have witnessed demand for processed foods. The increasing number of the working population in developing countries is also driving the food and beverages industries. The companies producing processed foods are using different additives and chemicals to keep the food and beverage fresh. Therefore, the peracetic acid market is increasing globally. The peracetic acid is also widely used for reducing the pathogens in fruits and vegetables, which is driving the growth of the peracetic market.
Peroxygen chemical compounds have been used in Europe for years, but water treatment firms have been exploring using peracetic acid (PAA) as an alternative to halogenated disinfection chemicals (such as chlorine-based products) in recent years. Peracetic acid decomposes fast into acetic acid, oxygen, and water, removing or neutralizing it before treated water enters waterways. Peracetic acid, once a niche commodity, may eventually challenge chlorine's dominance in huge areas of the wastewater treatment market.
The major restraint for the peracetic acid market is the lack of awareness among the customers about the product and key application area like waste water treatment. People have low awareness about the benefits of the product. Moreover, the price of the peracetic acid is expensive like hydrogen peroxide, sodium hypochlorite, calcium hypochlorite and chlorine.
Some Key Developments Offered in the Global Lactic Acid Market Report:
April 2020: Solvay’s PROXITANE AHC was granted approval for use against SARS-CoV-2 – the virus strain that causes COVID-19 – by the US Environmental Protection Agency (EPA). It has been added to the list of disinfectants for use against SARS-CoV-2 (List N) under EPA Registration Number 68660-11.
February 2020: Evonik (Germany) acquired PeroxyChem LLC (US), a maker of peracetic acid and hydrogen peroxide for USD 640 million. This has provided Evonik with a chance to market environmentally friendly disinfectants.
January 2018: Enviro Tech Chemical Services, Inc. (US) completed the installation of the peracetic acid delivery and dosing system in the United States. This new bulk delivery and dosing system at the North and South Plant has a capacity of > 30,000 gallons of bulk PAA storage capacity. It is the largest operating system for wastewater treatment in the US.
Impact Of COVID 19 On Global Peracetic Acid Market
The coronavirus pandemic has increased the need of personal and home cleaning to limit transmission of diseases. Many people have purchased disinfection and sanitizing goods to maintain cleaning and for sanitary purposes in both commercial and residential sector. As a result, the market is expected to witness growth due to the potential of the virus resurfacing, which will drive the demand for peracetic acid over the forecast period.
Global Peracetic Acid Market, by Application
Based on application, the global peracetic acid market is segmented into disinfectant, sterilant, sanitizers, reagents, and others. Among these, disinfectant is the largest growing segment. Disinfectants are widely used in the food and beverages sector to maintain better hygiene.
Global Peracetic Acid Market, by End User
Based on end use industry, the market is segmented into food and beverage, healthcare, water treatment, paper & pulp, agriculture, and others. Among these, food and beverage segment is witnessing the fastest growth in the developing nations. The growth is on account of increasing health-conscious consumers.
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Global Peracetic Acid Market, by Region
Based on the region, the global peracetic acid market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, South America. Europe holds the largest market share owing to strong presence of the developed countries such as Russia, Italy, UK, and Germany. Peracetic acid is mainly used for disinfection, purification, as well as water cleaning. Peracetic acid is also used in food and beverage sector.
Some Major Findings of the Peracetic Acid Market Report Include:
An in-depth peracetic acid market analysis by the segments, along with an analysis of trend-based insights and factors.
Profiles of major market players operating in the global peracetic acid market, which include Evonik Industries AG (Germany), Solvay SA (Belgium), Mitsubishi Gas Chemical Company (Japan), Ecolab Inc. (US), Enviro Tech Chemical Services (US), Kemira Ojy (Finland), Christeyns (Belgium), SEITZ GmBH (Germany), Jubilant Life Sciences (India), and Sopura (Belgium).
Key impact factor analysis across regions includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global peracetic acid market.
Impact of COVID-19 on the global peracetic acid market.
For more information on this topic please visit our website report titled, “Peracetic Acid Market, By Application (Disinfectant, Sterilant, Sanitizer, Reagent, Others), By End Use Industry (Food and beverage, healthcare, water treatment, pulp & paper, agriculture, others), By Region (North America, Europe, Asia Pacific, the Middle East and Africa, South America)” in-depth analysis along with the table of contents (ToC).
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